1 b oints eBook Print References Date January 1 (beginning inventory) January 24 February 8 March 16 June 11 Ending inventory Purchases Number of Units 680 780 Gross profit 480 Unit Cost $2.60 $2.70 $2.85 Number of Units 480 Sales 740 Sales Price $4.00 $4.30 Required: 1. Compute the cost of ending inventory by using the weighted-average costing method. (Do not round intermediate calculations and round the final answer to 2 decimal places.) Check my work 2. Compute the gross profit for the first six months of the current year by using the FIFO costing method. (Do not round intermediate calculations and round the final answer to 2 decimal places.)

Required: 1. Compute the cost of ending inventory by using the weighted-average costing method. (Do not round intermediate calculations and round the final answer to 2 decimal places.) 2. Compute the gross profit for the first six months of the current year by using the FIFO costing method. (Do not round intermediate calculations and round the final answer to 2 decimal places.)